The Internet, as we all know, changed the way we do business. Add in search engines, agency management systems, CRM systems and social media, and we have a mountain—or even a volcano—of data at our fingertips.
The data revolutionize how we conduct business. Cold calling is in the distant past; today you can easily know the demographics, wants and needs of your clients now and in the future. With free tools like Google Analytics and Facebook Insights, the data are readily available—and we can build even stronger relationships.
Our lives should be easier, right? Many characterize the 21st century as the age of information overload. With the mountains of data getting bigger every day, how do you capitalize on that information? The data can easily become unruly, overwhelming, and therefore, sometimes ignored.
While the insurance industry has collectively been a laggard in embracing technologies and tools, we are on the verge of a “breakout” from the shackles of a lot of data, but no information. Carriers are using tools and systems, such as EagleEye Analytics and Dovetail, to analyze their data and bring products to market quicker. Carriers also can use tools like ProspX InsiderConnect to get the right information at the right time to the right agents and producers. On the agent and broker side, we now have proven systems to increase the effectiveness of client service and communication from vendors such as Succeed Management.
Need someone internally to analyze your data? Hire a college intern or a recent graduate to do the work. Not only do they know how to use these tools, but they have the mindset and work habits to find the gold in these mountains of data. When you hire a millennial, the benefits are twofold: You also introduce them to one of the best industries in the world—an agency.
John F. Kennedy once said, “For time and the world do not stand still. Change is the law of life. And those who look only to the past or the present are certain to miss the future.” What you do with your data now will define the future of your agency. As complicated as it can be, embrace it, analyze it, incorporate it into your planning and evaluate. Technology continues to evolve and move at a rapid pace. Jump on the bus before it passes you by. The possibilities are endless.
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